IAMGOLD (NYSE:IAG) Reaches New 12-Month High - Here's Why

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG shares reached a new 52-week high during trading on Friday . The stock traded as high as $7.09 and last traded at $6.87, with a volume of 34355816 shares changing hands. The stock had previously closed at $6.51.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IAG. Raymond James reaffirmed a "market perform" rating and issued a $8.00 target price on shares of IAMGOLD in a report on Friday, April 4th. StockNews.com lowered shares of IAMGOLD from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Scotiabank upped their price target on shares of IAMGOLD from $6.75 to $7.50 and gave the company a "sector perform" rating in a research note on Monday. National Bank Financial raised shares of IAMGOLD to a "strong-buy" rating in a research note on Friday, March 21st. Finally, CIBC restated an "outperform" rating on shares of IAMGOLD in a research report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.57.

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IAMGOLD Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The firm has a market capitalization of $4.17 billion, a PE ratio of 5.02 and a beta of 1.52. The stock's 50-day moving average price is $6.06 and its 200 day moving average price is $5.66.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last issued its earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.05). The firm had revenue of $469.90 million during the quarter, compared to analysts' expectations of $498.68 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. On average, sell-side analysts expect that IAMGOLD Co. will post 0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On IAMGOLD

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its position in shares of IAMGOLD by 27.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company's stock worth $6,654,000 after buying an additional 277,000 shares during the last quarter. Cibc World Market Inc. boosted its holdings in shares of IAMGOLD by 54.0% in the 4th quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company's stock valued at $26,452,000 after acquiring an additional 1,795,869 shares during the last quarter. Triasima Portfolio Management inc. raised its stake in shares of IAMGOLD by 44.5% during the 4th quarter. Triasima Portfolio Management inc. now owns 352,315 shares of the mining company's stock valued at $1,820,000 after buying an additional 108,524 shares during the last quarter. JPMorgan Chase & Co. raised its position in IAMGOLD by 66.6% during the third quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company's stock valued at $7,904,000 after acquiring an additional 604,259 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in IAMGOLD during the third quarter worth $1,083,000. 47.08% of the stock is currently owned by institutional investors.

IAMGOLD Company Profile

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.